Jobs Bill

President Barack Obama on March 18, 2010 signed a landmark jobs bill that includes $18b in tax breaks and $20b in new transportation funding. The tax break component of the measure includes waiver of 6.2% Social Security Tax through December 2010 if the businesses hire anyone unemployed for at least 60 days and giving $1,000 to employers if the new hire stays on job for a full year. The measure also extends tax credits for businesses to buy new equipment.